Digital Money Market Weekly Report ( 9.24-9.30 )

This week, the digital money market is overall stable with small fluctuations. Bitcoin's price is decreasing in volume at the end of the triangular consolidation range, and a significant directional trend may occur at the beginning of October.

The total market value of global digital money slightly decreased by 2% to $22.13 billion. Bitcoin's market share is 51.42%, which is a slight decrease compared to last week.

Many countries have further clarified their regulatory stance on Digital Money:

• The U.S. Securities and Exchange Commission ( SEC ) will expand its regulatory focus to digital asset brokers and investment companies.

• The French National Assembly has launched a legal debate on cryptocurrency assets and ICOs.

• A U.S. federal judge ruled that digital money falls under the jurisdiction of the Commodity Futures Trading Commission (CFTC).

• The Shanghai court has recognized that Ether can be protected as property in the general legal sense.

• The SEC chairman stated that most digital assets will be considered securities and subject to regulation.

Industry trends:

• Xunlei sells its "Chainker" related business and focuses on the development of underlying blockchain technology.

• Google will lift the ban on certain cryptocurrency-related advertisements.

• Bitmain submitted its IPO application to the Hong Kong Stock Exchange, with a net profit of $743 million in the first half of the year.

• Ripple is in discussions with Nasdaq regarding its listing.

• Goldman Sachs Research launches Ethereum financial derivatives.

• South Korea has recognized 9 blockchain-related businesses as part of the venture capital industry.

• Bank of Communications issued the first credit asset securitization project based on blockchain technology.

• Indian exchange Zebpay has suspended operations.

• Alibaba DAMO Academy launched a blockchain laboratory.

In terms of regulation, the vice chairman of the Securities Regulatory Commission stated that there will be severe penalties for behaviors that abuse technology in the name of finance while engaging in illegal financial activities. Industry insiders expect a new round of bull market before the end of the year.